Título: A unified theory of structural change
Autores: Guilló Fuentes, María Dolores
Papageorgiou, Chris
Pérez Sebastián, Fidel
Fecha: 2012-07-30
2012-07-30
2011-05-13
Publicador: RUA Docencia
Fuente:
Tipo: info:eu-repo/semantics/article
Tema: Multi-sector growth model
Structural change
Agriculture and non-agriculture R&D
Directed innovation
Hon-homothetic preferences
Fundamentos del Análisis Económico
Descripción: This paper uses dynamic general equilibrium and computational methods, inspired by the multi-sector growth model structure in Stephen Turnovsky's work, to develop a theory that unifies two of the traditional explanations of structural change: sector-biased technical change and non-homothetic preferences. The theory is based on an overlapping-generations growth model with endogenous technical change and non-homothetic preferences. An expanding-variety setup with two different R&D technologies, agricultural, and non-agricultural, is employed. The analysis, based on numerical simulations, shows that the biased technical change hypothesis finds most support in the data. It also points to production-side specific factors, such as asymmetries in cross-sector knowledge spillovers, as explanatory factors of the bias in technical change.
Financial support from Ministerio de Ciencia e Innovación and FEDER funds under project SEJ-2007-62656, and from Instituto Valenciano de Investigaciones Económicas.
Idioma: Inglés

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